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Directions: The following questions are accompanied by three statements (I), (II) and (III). You have to determine which statement(s) is/are sufficient to answer the following question. What is the cost price of the book? I. After allowing a discount of 20% on the printed price, the shopkeeper charges ₹960 for it. II. If he had not allowed any discount, he would have a profit of 50%. III. If he allows 10% discount on the printed price.

1. Only I and III are sufficient to answer
2. Only II and III are sufficient to answer
3. Only I and II are sufficient to answer
4. Any two of three are sufficient to answer

Correct answer: Only I and II are sufficient to answer

Solution

Statement I gives the selling price as ₹960 after a 20% discount, so the printed price can be found. Statement II says that without discount the shopkeeper would make 50% profit, which links printed price to cost price. Together they are sufficient; statement III is unnecessary.

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